PKR sheds 22 paisa per USD

MG News | May 18, 2023 at 09:15 PM GMT+05:00

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May 18, 2023 (MLN): Continuing its downward journey, the Pakistani rupee (PKR) on Thursday depreciated by 21 paisa against the US dollar in the interbank session as the currency settled the trade at PKR 285.62 per USD compared to yesterday's closing of PKR 285.4 per USD.

Throughout today’s session, the local unit traded in a band of 2.2 rupees, showing an intraday high bid of 285.90 and a low offer of 284.95 while in the open market, PKR was traded at 294/298 per USD.

Meanwhile, the currency lost 71 paisa to the Pound Sterling as the day's closing quote stood at PKR 355.56 per GBP, while the previous session closed at PKR 354.86 per GBP.

On the other hand, PKR's value strengthened by 31 paisa against EUR which closed at PKR 308.89 at the interbank today.

In FYTD, PKR lost 80.76 rupees or 28.28%, while it plummeted by 59.18 rupees or 20.72% against the USD in CYTD. Within the last seven sessions, the local unit moved up by 4.66%, as per data compiled by Mettis Global.

On another note, within the money market, the overnight repo rate towards the close of the session was 20.2%/20.5%, whereas the 1-week rate was 20.45%/20.55%.

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